The European Commission (EC) called on Romania on Friday to fully transpose directives regarding money laundering and the distribution of cross-border funds into its national legislation. Romanian authorities have exempted several categories of corporate and other legal entities from the obligation to declaring their beneficial owners to a central register, failing to comply with the anti-money laundering directive, the Commission said in a statement. The directive requires member states to ensure that corporate and other legal entities incorporated within their territory obtain and hold adequate, accurate and current information on their beneficial ownership, including the details of the beneficial interests held. Anti-money laundering rules are instrumental in the fight against money laundering and terrorism financing, and legislative gaps occurring in one member state have an impact on the EU as a whole, it noted. The Commission also urged Romania to update national laws removing regulatory barriers under the cross-border distribution of funds directive. The directive aims at removing regulatory barriers to the distribution of the collective investment funds, which is one of the objectives of the Capital Markets Union. These rules aim at increasing transparency and creating a single access to information on national rules related to marketing requirements, regulatory fees and charges levied by national competent authorities, the EC said. If Romania does not address these reasoned opinions in two months, the Commission will refer the case to the Court of Justice of the EU.
Wizz Air will add a route connecting Brașov, in central Romania, to Katowice, in Poland, beginning next year, the Brașov International Airport announced. The route will become operational on March 31, 2026, with flights operating every Tuesday, Thursday, and Saturday. In the upcoming winter season, the airline will operate seven routes to five countries from […]
IT Genetics, a company specializing in digitalizing services, aims to have its shares tradable at the Bucharest Stock Exchange by the end of this year, with the amount to be raised estimated at approximately EUR 2 million. The ITG group will be listed, not just IT Genetics, which is nevertheless the main pillar of the […]
Romania’s current transport minister, the Social Democrat Ciprian Șerban, offered bribes to representatives of a forest district in Iași County as a young businessman in 2012, according to recently surfaced documents and recordings. Șerban gave bribes at least six times before reporting the offense to the National Anticorruption Directorate. He did so only after being […]
David Popovici has won the gold medal in the 100-meter freestyle final at the World Championships in Singapore. It is his second win at the event, after the gold medal in the 200-meter freestyle race two days ago. The Romanian swimmer finished the race with a time of 46.51 seconds, ahead of Jack Alexy, who […]
PPF Real Estate, a global developer and investor with a real estate portfolio exceeding EUR 2 billion, announces the completion of infrastructure works for ARC, its new state-of-the-art office project in the Basarab area. The construction progresses on schedule. Reaching ground level marks, a key milestone in the development timeline. The project is moving forward […]
BRD Groupe Societe Generale, the fifth largest bank in Romania by assets, registered a net profit of RON 764 million (EUR 150 million), up 10% compared to the same period in 2024. The net loan portfolio, including leasing financing, increased by 17.4% during the mentioned period, marking a significant growth in corporate lending by 23.8% […]
